- Aprile 26, 2022
- Posted by: Oliver
- Categoria: Economics, Finance & accounting
Charlotte, North Carolina-based financial services major Truist Financial offers consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services. With about $509 billion in assets, the bank operates 2,781 branches in 15 states and Washington, D.C.
The company recently reported mixed results for the first quarter of 2022, as its revenues missed but earnings surpassed estimates. Revenues for the quarter came in at $5.4 billion, which denotes a year-over-year decline of roughly 3%. Further, the figure missed the consensus estimate of $5.47 billion. EPS for the quarter stood at $1.23, up 4.2% from the prior year and above the consensus estimate of $1.09 per share.
Recently, Cassidy reiterated a Buy rating on the stock with a price target of $70, which implies upside potential of 34.3% from current levels.
Cassidy has given TFC stock a total of 43 ratings. The success rate of his Buy ratings is 67%. Cassidy has generated an average profit of 24.5% on the stock.
